October 22, 2020 10:00 ET | Source: BW Offshore The Board of Directors of BW Umuroa Pte. Ltd. (BWU), awholly ownedsubsidiary of BW Offshore, has today resolved to place BWU into voluntary liquidation. BWU is the owner and operator of the FPSO Umuroa which is presently located on the Tui oil field offshore New Zealand.…
Supplied/Stuff The FPSO Umuroa, right, moored near the Tui Oil Field offshore of Taranaki. Taranakis oil and gas industry has been delivered another blow with the company servicing the Tui Oil Field going into liquidation, a flow on from Tamarind Taranaki’s collapse. Norwegian-based BW Offshore have put BWU, a wholly owned subsidiary which operates the…
Banks are not taking enough risk if no loans ever go bad after all banks are in the business of providing risk capital at an appropriate price. But given a certain proportion of loans will go bad, how should banks provide for them in their accounts without knowing exactly which ones will tip over? “Businesses…
The company was directed by Canadian businessman Matthew Davey out of Dunedin but he is understood to have returned to Canada. Photo by Peter McIntosh. The embattled company behind Ticket Rocket is now in liquidation owing nearly $350,000 to two Super Rugby franchises. Fortress Information Systems Ltd was called before the High Court at Dunedin…
Banks are not taking enough risk if no loans ever go bad after all banks are in the business of providing risk capital at an appropriate price. But given a certain proportion of loans will go bad, how should banks provide for them in their accounts without knowing exactly which ones will tip over? “Businesses…
The disruption and financial pressures caused by the pandemic are likely to give rise to some common challenges for businesses across sectors, whether the problem concerns a supplier or a customer. While each case will require specific advice, parties should be generally aware of some recent changes to legal remedies available when approaching a dispute.…
New Zealand Super Rugby franchises the Crusaders and the Hurricanes have won their bid to have the company behind Ticket Rocket liquidated. As reported by the Stuff website, Fortress Information Systems Ltd which traded as Ticket Rocket, was not represented in the High Court of Dunedin this morning. Lawyers acting on behalf of the Hurricanes…
The company was directed by Canadian businessman Matthew Davey out of Dunedin but he is understood to have returned to Canada. Photo by Peter McIntosh. The embattled company behind Ticket Rocket is now in liquidation, owing nearly $350,000 to two Super Rugby franchises. Fortress Information Systems Ltd was called before the High Court at Dunedin…
Vrgin Australia is expected to remove free food and drinks from economy class and potentially adopt a ‘buy on board’ model when new owners Bain Capital reveals its plans for the rescued and rebooted airline next month The move is part of a sweeping push to lower Virgin’s cost base and reduce ticket prices framed…
Banks are not taking enough risk if no loans ever go bad after all banks are in the business of providing risk capital at an appropriate price. But given a certain proportion of loans will go bad, how should banks provide for them in their accounts without knowing exactly which ones will tip over? “Businesses…